SHENYANG, China, Nov. 10 /Xinhua-PRNewswire-FirstCall/ -- 3SBio Inc.
(Nasdaq: SSRX) ("3SBio" or the "Company"), a leading China-based
biotechnology company focused on researching, developing, manufacturing and
marketing biopharmaceutical products, today announced its unaudited
financial results for the third quarter ended September 30, 2008.
Third Quarter 2008 Financial Highlights:
-- Total net revenues increased 21.6% over the third quarter 2007 to
RMB68.2 million (US$10.0 million).
-- Net revenue from recombinant human erythropoietin ("EPO") products,
marketed under the EPIAO brand, increased 17.5% over the third quarter
2007 to RMB42.7 million (US$6.3 million).
-- Net revenue from protein-based therapeutic recombinant human
thrombopoietin ("TPO") products, marketed under the TPIAO brand
increased 39.3% over the third quarter 2007 to RMB19.7 million (US$2.9
-- Operating income increased 21.4% over the third quarter 2007 to RMB20.7
million (US$3.1 million).
-- One-time impairment loss of approximately RMB19.1 million (US$2.8
million) for the third quarter 2008. This impairment loss was related
to a US$3.0 million aggregate principal amount of Floating Rate Notes,
which are linked to the credit of Lehman Brothers Holdings Inc. and
mature on January 21, 2009, subject to certain conditions.
-- Net income decreased 92.3% over the third quarter 2007 to RMB1.9
million (US$0.3 million).
-- Net income per American depositary share ("ADS") for the third quarter
2008 was RMB0.09 (US$0.01) compared with RMB1.11 (US$0.15) for the
third quarter 2007.
|SOURCE 3SBio Inc.|
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